Head of Risk, Compliance, Audit
Al Ramz Securities
Total des années d'expérience :17 years, 9 Mois
Risk Management
Apply Risk & Control Self Assessment (RCSA) on all company departments.
Identify potential risks and define root causes.
Assess areas and degree of the risk's impact on the business.
Create preventive, detective, and corrective internal policies and controls to mitigate risks.
Create and train staff on new policies and increase risk management awareness.
Compliance
Understand and keep updated with the regulations of the Securities & Commodities Authority "SCA".
Update management and staff on new SCA, DFM, and ADX regulations.
Represent the company in any communication with SCA, DFM, and ADX.
Ensure staff compliance of the rules and regulations and report to management of any violations.
Internal Audit
Apply periodic audits on all divisions (finance & operations, brokerage, customer service, and branches).
Ensure compliance with IFRS, SCA and markets' rules and regulations, and internal policies & procedures.
Apply fraud investigations and audits on deep scale to uncover fraud incidents of employees or clients.
Issue periodic management reports on findings and corrective actions.
The major time of my audit assignment was in banks covering the following areas:
Credit: Credit review procedure was applied on a significant coverage of all corporate and HNW retail clients.
Investments: Analytical reviews and testing of details of each investment covering approvals, controls, and valuations.
Treasury: Understanding and auditing deal tickets and reviewing controls over ALCO management.
Branches Operations: visiting selected branches and apply test of controls procedures over account opening, account closing, dormant accounts, credit cards, car loans, personal loans, cash counting of tellers, cash counting of vault.
Central Operations: Apply test of controls procedures over inward and out wars remittances and cheques clearing.
Financial Control: Review controls over accounting function and audit financial statements by vouching, analyzing, and recalculating driving accounts.
Communicate with all departments’ heads and have discussions in all relevant areas.
Fraud: Apply fraud related testing and report findings to management.
Managed the audit team members, allocating areas of responsibilities, explaining the theoretical and technical mechanisms, monitoring daily progress, and reviewing the final working papers before presenting to engagement manager and partner and solving any review points.
Managed clients’ relationships by applying high transparency approach to get the best results within deadlines.
Planned and performed audit procedures to obtain evidence about the amounts and disclosures in the financial statements are in accordance with International Financial Reporting Standards.
Prepared financial statements as per IFRS and KPMG’s illustrative and guidelines.
Executed and Applied substantive audit procedures such as test of details and analytical procedures to verify amounts and disclosures of the financial statements.
Securities & Commodities Authority & CISI Qualifications-Led Licensing Regime covering the following subjects: 1. International Introduction to the Investment. 2. The UAE Financial Rules & Regulations. 3. Global Securities. 4. Operational Risk. 5. Financial Risk.